Altria Group
Altria Group is the parent company of Philip Morris USA, U.S. Smokeless Tobacco Company, John Middleton, Ste. Michelle Wine Estates and Philip Morris Capital Corporation . |} Altria History The company today known as Altria Group has only been in existence since 1985, this operating companies have roots that stretch back, in some instances well over 150 years. In the mid-nineteenth century, Philip Morris, Esq. opened his retail tobacco shop on London’s Bond Street. That modest venture has grown to become Philip Morris USA, the largest tobacco company in the U.S. 1985 Philip Morris announces a restructuring, in which Philip Morris Companies (now known as Altria Group), a holding company, becomes the publicly-held parent of Philip Morris. Philip Morris Companies is listed on the Tokyo Stock Exchange. Net income tops the $1 billion mark, reaching $1.26 billion. 1986 Spurred by the General Foods business, revenues increase more than 50% to $25.4 billion, while net earnings reach $1.5 billion. 1988 Philip Morris Companies’ revenues reach nearly $32 billion; net earnings top $2.3 billion. 1989 Philip Morris Companies revenues increase 41% to nearly $45 billion; net earnings jump 26% to nearly $3 billion. 1990 Philip Morris Companies’ revenues top the half-century mark, reaching $51 billion; operating companies’ income reaches $3.5 billion. 1992 Philip Morris Companies increases its dividend, the 25th consecutive year owners of MO stock have received a dividend increase. Operating companies income tops $10 billion. 2002 Miller Brewing Company is merged into South African Breweries to form SABMiller, the world’s second largest beer company, with Philip Morris Companies retaining a 24.9% voting interest and a 36% economic interest in the enlarged group (without giving effect to the contemplated equity placing by SABMiller). The Board of Directors increases the dividend by 10.3%, marking the 35th time in 33 years that the owners of MO have received a dividend increase. 2003 On January 27, Altria Group becomes the name of the parent company of Kraft Foods, Philip Morris International, Philip Morris USA and Philip Morris Capital Corporation. Altria Group launches the Altria Code of Conduct for Compliance and Integrity. The Code is the cornerstone of Altria companies’ enterprise-wide Compliance and Integrity initiative. 2004 The Board of Directors increases the dividend by 7.4%, marking the 37th time in 35 years that the owners of MO have received a dividend increase. 2005 Altria Group increased its regular quarterly dividend by 9.6% to $0.80 per common share in August, representing an annualized rate of $3.20 per common share. Total shareholder return for our stock was 27.7%, exceeding that of the Standard & Poor’s 500 Index. 2006 Altria Group increased its regular quarterly dividend by 7.5%, representing an annualized rate of $3.44 per common share. Total shareholder return was 19.9%, exceeding that of the Standard & Poor’s 500 Index for the fifth consecutive year. 2007 On January 31, Altria Group’s Board of Directors voted to authorize the spin off of all shares of Kraft Foods, Inc. owned by Altria to Altria’s shareholders. On March 30, Altria Group distributed approximately 88.9% of Kraft’s outstanding shares owned by Altria to Altria’s shareholders of record as of 5 p.m Eastern Time on March 16, 2007. On December 11, Altria Group completed the acquisition of John Middleton, Inc., a leading manufacturer of machine-made large cigars, from privately held Bradford Holdings, Inc. 2008 On January 30, Altria Group’s Board of Directors voted to authorize the spin off of 100% of the shares of Philip Morris International Inc. to Altria’s shareholders. On March 28, Altria Group completed the spin off of 100% of the shares of Philip Morris International to Altria’s shareholders. On March 28, Michael E. Szymanczyk became Chairman and CEO of Altria Group, Inc. and also Chairman and CEO of Philip Morris USA. 2009 On January 6, 2009 Altria Group completed the acquisition of UST Inc., the holding company whose primary businesses manufacture and market moist smokeless tobacco products through U.S. Smokeless Tobacco Company and premium wines through Ste. Michelle Wine Estates. Altrias Companies and Their Brands Altria Group’s companies include Philip Morris USA, John Middleton, U.S. Smokeless Tobacco Company and Ste. Michelle Wine Estates. Altria’s tobacco companies portfolios consist of successful and well-known cigarette brand names such as Marlboro cigarettes, Skoal, Copenhagen and Black & Mild. The growth of Altria Group’s companies’ brands is driven by constant innovation. Philip Morris USA Philip Morris USA is the bigest tobacco company in the U.S. and has half of the United States cigarette market’s retail share. U.S. Smokeless Tobacco Company U.S. Smokeless Tobacco Company manufactures and markets smokeless tobacco products. John Middleton John Middleton is a leading manufacturer of machine-made large cigars and pipe tobacco. Ste. Michelle Wine Estates Ste. Michelle Wine Estates ranks among the top 10 producers of premium wines in the United States. Philip Morris Capital Corporation Philip Morris Capital Corporation is an investment company whose portfolio consists primarily of leveraged and direct finance lease investments. Other Altria Group holds a continuing economic and voting interest in SABMiller plc, one of the world’s largest brewers. Altria Group also has three internal service subsidiaries that provide support to its operating companies.